Economic Commentary

Chief Economist Scott Brown discusses current economic conditions. On Monday, the Treasury Department is expected to report a March budget deficit of about $658 billion, bringing the 12-month total to nearly $4.1 trillion, about 19% of GDP. Proponents argue that the added spending, with more to come, will help to ensure the recovery. Critics charge […]

Chief Economist Scott Brown discusses the latest market data. The ISM Services Index rose to 63.7 in March, from 55.3 in February, partly reflecting a rebound from bad weather. The report showed business activity, new orders and employment rising at a faster pace, while supplier delivery times lengthened further and input price pressures continued to […]

April 5, 2021 Chief Economist Scott Brown discusses current economic conditions. As the pandemic recedes and the economy reopens, we can expect strong job growth in the months ahead. The March figures were a start. We may soon see monthly gains in nonfarm payrolls of a million or more. However, as employment rebounds, labor market […]

March 26, 2020 Chief Economist Scott Brown discusses the latest market data. February’s bad weather continued to affect the economic data reports, with declines in new and existing home sales, as well as durable goods orders and shipments. Personal income fell 7.1% in February, reflecting January’s direct deposits (which have also gone out in March). […]